maconda supports the Gustoso Group with refinancing
maconda-News April 2025
The Munich-based system catering group Gustoso has secured fresh capital to support its expansion and is relying on the expertise of maconda. The consultants based in Cologne provided Gustoso and majority shareholder AUCTUS Capital with significant support during the refinancing process. This included a detailed market review of Germany and Switzerland, as well as an analysis of the multi-brand strategy and market prospects for system catering.
The Gustoso Group is one of the fastest-growing restaurant groups in Germany. It operates more than 170 locations across Germany, Austria, Switzerland, and the Netherlands, either directly or through franchise partners. Gustoso is a multi-brand catering platform in the fast casual segment, combining full-service and quick-service restaurants. The group includes burger and Italian food concepts as well as a lifestyle format. The maconda team clearly highlighted the advantages of this multi-brand strategy. Compared to single-brand operators, Gustoso can spread entrepreneurial risks more broadly and benefits from diverse synergies across nearly all parts of the value chain – particularly in expansion, specialist recruitment, purchasing, digitalisation and marketing. Gustoso’s Netherlands expansion via ‘t Zusje was supported by maconda consultants with market and competition analysis.
Extensive insight into the industry
Following the proven maconda principle, a wide variety of sources were evaluated prior to the analysis. These included relevant trade magazines and blogs, publications from various gastronomy associations, and extensive information on competitors – both in system catering generally and within specific food segments. “To gain a complete view of the industry, it was, of course, also important to conduct the occasional restaurant visit during lunch breaks and after work,” says maconda Managing Director Rainer Mayer about this special project. The maconda consultants focused on the challenges facing the restaurant industry, which suffered greatly from Covid-19 but has recently begun to grow again. The system catering sector, in particular, is on the path to recovery. Industry insiders interviewed by maconda expect this trend to continue. Considering multiple crises, consumers are likely to shift their restaurant visits from more expensive to somewhat more affordable segments – thus benefiting system catering.
About Gustoso
The Gustoso Group was founded in 2015 and is a fast-growing catering company focused on system catering, based in Munich. Since its inception, the group has expanded to more than 170 locations. Gustoso now encompasses the brands Cotidiano, Ciao Bella, Ruff’s Burger (operating under Otto’s Burger in Hamburg), 60 seconds to napoli, Burgermeister in Switzerland, and ‘t Zusje in the Netherlands. Gustoso’s stated goal is to become one of the leading multi-brand platforms for gastronomic concepts in Europe. AUCTUS Capital Partners is a co-founder and remains the majority shareholder.
About AUCTUS
AUCTUS is an owner-managed private equity investor based in Munich, founded in 2001. With over 450 transactions in the past 24 years, AUCTUS is one of the most active investment firms in Europe. The strategy is based on a “buy & build” approach: AUCTUS invests in medium-sized companies with growth potential and supports them in developing international activities. The private equity investor places great importance on independence and an entrepreneurial approach – more than 50 percent of the invested capital comes from the AUCTUS team itself.
maconda further expands its expertise in system catering
In recent years, the maconda team has significantly expanded its expertise in system catering, the food industry and retail. This includes numerous commercial reviews, commercial due diligences, investment checks, and strategy mandates such as go-to-market concepts.
Extensive industry experience: system catering | horeca | catering | franchise systems | convenience food | frozen food | baked goods | confectionery | meat & sausage | beverages | organic | vegan | sports nutrition | nutritional supplements | ethnofood | pet food | food retail | wholesale | consumer goods of all kinds and much more
About maconda
For more than 20 years, maconda has been providing support for company takeovers, performance optimisation and restructuring. With over 800 consulting and implementation projects and more than 450 transaction-related mandates, maconda has extensive experience in providing pragmatic support for even the most challenging projects. Clients include medium-sized companies, divisions of large corporations, as well as international private equity investors and family offices.
maconda sector expertise: consumer goods | food | retail & ecommerce | packaging | B2C services | B2B services (incl. business process outsourcing) | manufacturing companies
maconda core topics: Transaction consulting | Business model development | Performance management